ConocoPhillips (COP, Financial) filed Quarterly Report for the period ended 2010-09-30.
Conocophillips has a market cap of $87.91 billion; its shares were traded at around $58.95 with a P/E ratio of 11.2 and P/S ratio of 0.6. The dividend yield of Conocophillips stocks is 3.7%. Conocophillips had an annual average earning growth of 18.2% over the past 10 years.COP is in the portfolios of Donald Yacktman of Yacktman Asset Management Co., Tweedy Browne of Tweedy Browne CO LLC, Donald Yacktman of Yacktman Asset Management Co., Michael Price of MFP Investors LLC, Wallace Weitz of Weitz Wallace R & Co, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Warren Buffett of Berkshire Hathaway, David Williams of Columbia Value and Restructuring Fund, James Barrow of Barrow, Hanley, Mewhinney & Strauss, Richard Snow of Snow Capital Management, L.P., Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jeff Auxier of Auxier Focus Fund, David Dreman of Dreman Value Management, Pioneer Investments, Brian Rogers of T Rowe Price Equity Income Fund, Bill Frels of Mairs & Power Inc. , Jeremy Grantham of GMO LLC, Mario Gabelli of GAMCO Investors, Steven Cohen of SAC Capital Advisors, Bruce Kovner of Caxton Associates, Chris Davis of Davis Selected Advisers, PRIMECAP Management, NWQ Managers of NWQ Investment Management Co, Third Avenue Management, Tom Russo of Gardner Russo & Gardner, Jim Simons of Renaissance Technologies LLC, Manning & Napier Advisors, Inc, Charles Brandes of Brandes Investment, George Soros of Soros Fund Management LLC, Dodge & Cox, Kenneth Fisher of Fisher Asset Management, LLC.
R&M earnings were $268 million in the third quarter of 2010, compared with a loss of $279 million in the second quarter of 2010 and earnings of $99 million in the third quarter of 2009. The loss in the second quarter of 2010 included a $1,103 million after-tax property impairment of our refinery in Wilhelmshaven, Germany.
Earnings were $3,055 million in the third quarter of 2010, compared with $1,470 million in the third quarter of 2009. For the nine-month periods ended September 30, 2010 and 2009, earnings were $9,317 million and $3,129 million, respectively. The improvement in both periods of 2010 was primarily the result of:
Earnings from our E&P segment were $1,564 million in the third quarter of 2010, compared with earnings of $978 million in the third quarter of 2009. E&P earnings for the first nine months of 2010 and 2009 were $7,510 million and $2,403 million, respectively. Both periods in 2010 benefitted from higher prices for crude oil, natural gas, natural gas liquids and LNG. These increases were partially offset by lower crude oil, natural gas and synthetic oil volumes. The third quarter of 2010 benefitted from lower dry hole costs and higher gains from asset rationalization efforts. The improvement in the nine-month period of 2010 included the $2,679 million after-tax gain on sale of Syncrude and positive foreign currency impacts, which were partially offset by higher petroleum and export taxes as a result of higher prices. See the Business Environment and Executive Overview section for additional information on industry crude oil and natural gas prices.
Our U.S. E&P operations reported earnings of $563 million in the third quarter of 2010, compared with earnings of $327 million for the same period in 2009. Domestic E&P earnings for the first nine months of 2010 and 2009 were $1,856 million and $836 million, respectively. The increases for both periods in 2010 were primarily the result of higher prices for crude oil, natural gas and natural gas liquids, which were partially offset by lower crude oil and natural gas volumes. In addition, the nine-month period of 2010 benefitted from lower depreciation, depletion and amortization as a result of lower crude oil and natural gas volumes. These increases in the nine-month period were partially offset by higher production taxes, primarily in Alaska, and an unfavorable tax ruling.
International E&P earnings were $1,001 million in the third quarter of 2010, or $350 million higher than the same period in 2009. International E&P earnings for the first nine months of 2010 and 2009 were $5,654 million and $1,567 million, respectively. Results for both periods in 2010 were influenced by higher crude oil, natural gas and LNG prices, which were partially offset by lower synthetic oil volumes. The increase in the nine-month period included the gain on sale of our Syncrude oil sands mining operation, in addition to positive foreign currency impacts. These increases were partially offset by higher petroleum and export taxes as a result of higher prices, and the $93 million after-tax write-off of project costs resulting from our decision to end participation in the Shah Gas Field Project in Abu Dhabi.
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Conocophillips has a market cap of $87.91 billion; its shares were traded at around $58.95 with a P/E ratio of 11.2 and P/S ratio of 0.6. The dividend yield of Conocophillips stocks is 3.7%. Conocophillips had an annual average earning growth of 18.2% over the past 10 years.COP is in the portfolios of Donald Yacktman of Yacktman Asset Management Co., Tweedy Browne of Tweedy Browne CO LLC, Donald Yacktman of Yacktman Asset Management Co., Michael Price of MFP Investors LLC, Wallace Weitz of Weitz Wallace R & Co, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Warren Buffett of Berkshire Hathaway, David Williams of Columbia Value and Restructuring Fund, James Barrow of Barrow, Hanley, Mewhinney & Strauss, Richard Snow of Snow Capital Management, L.P., Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jeff Auxier of Auxier Focus Fund, David Dreman of Dreman Value Management, Pioneer Investments, Brian Rogers of T Rowe Price Equity Income Fund, Bill Frels of Mairs & Power Inc. , Jeremy Grantham of GMO LLC, Mario Gabelli of GAMCO Investors, Steven Cohen of SAC Capital Advisors, Bruce Kovner of Caxton Associates, Chris Davis of Davis Selected Advisers, PRIMECAP Management, NWQ Managers of NWQ Investment Management Co, Third Avenue Management, Tom Russo of Gardner Russo & Gardner, Jim Simons of Renaissance Technologies LLC, Manning & Napier Advisors, Inc, Charles Brandes of Brandes Investment, George Soros of Soros Fund Management LLC, Dodge & Cox, Kenneth Fisher of Fisher Asset Management, LLC.
Highlight of Business Operations:
E&P earnings were $1,564 million in the third quarter of 2010. This compares with earnings of $4,114 million in the second quarter of 2010 and $978 million in the third quarter of 2009. The decrease in third quarter 2010 earnings, compared with second quarter 2010 earnings, was primarily due to the $2,679 million after-tax gain on sale of our Syncrude oil sands mining operation in the second quarter.R&M earnings were $268 million in the third quarter of 2010, compared with a loss of $279 million in the second quarter of 2010 and earnings of $99 million in the third quarter of 2009. The loss in the second quarter of 2010 included a $1,103 million after-tax property impairment of our refinery in Wilhelmshaven, Germany.
Earnings were $3,055 million in the third quarter of 2010, compared with $1,470 million in the third quarter of 2009. For the nine-month periods ended September 30, 2010 and 2009, earnings were $9,317 million and $3,129 million, respectively. The improvement in both periods of 2010 was primarily the result of:
Earnings from our E&P segment were $1,564 million in the third quarter of 2010, compared with earnings of $978 million in the third quarter of 2009. E&P earnings for the first nine months of 2010 and 2009 were $7,510 million and $2,403 million, respectively. Both periods in 2010 benefitted from higher prices for crude oil, natural gas, natural gas liquids and LNG. These increases were partially offset by lower crude oil, natural gas and synthetic oil volumes. The third quarter of 2010 benefitted from lower dry hole costs and higher gains from asset rationalization efforts. The improvement in the nine-month period of 2010 included the $2,679 million after-tax gain on sale of Syncrude and positive foreign currency impacts, which were partially offset by higher petroleum and export taxes as a result of higher prices. See the Business Environment and Executive Overview section for additional information on industry crude oil and natural gas prices.
Our U.S. E&P operations reported earnings of $563 million in the third quarter of 2010, compared with earnings of $327 million for the same period in 2009. Domestic E&P earnings for the first nine months of 2010 and 2009 were $1,856 million and $836 million, respectively. The increases for both periods in 2010 were primarily the result of higher prices for crude oil, natural gas and natural gas liquids, which were partially offset by lower crude oil and natural gas volumes. In addition, the nine-month period of 2010 benefitted from lower depreciation, depletion and amortization as a result of lower crude oil and natural gas volumes. These increases in the nine-month period were partially offset by higher production taxes, primarily in Alaska, and an unfavorable tax ruling.
International E&P earnings were $1,001 million in the third quarter of 2010, or $350 million higher than the same period in 2009. International E&P earnings for the first nine months of 2010 and 2009 were $5,654 million and $1,567 million, respectively. Results for both periods in 2010 were influenced by higher crude oil, natural gas and LNG prices, which were partially offset by lower synthetic oil volumes. The increase in the nine-month period included the gain on sale of our Syncrude oil sands mining operation, in addition to positive foreign currency impacts. These increases were partially offset by higher petroleum and export taxes as a result of higher prices, and the $93 million after-tax write-off of project costs resulting from our decision to end participation in the Shah Gas Field Project in Abu Dhabi.
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